2.40%C 7.82 8.31%UYG 5.47 10.28%
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WALL, N.J. - Wireless communications company Centennial Communications Corp. said Tuesday its fiscal first-quarter profit grew as revenue for services and equipment increased.
| CYCL | 7.77 |  -0.03 |
But shares fell as the company's earnings fell shy of expectations.
For the three months ended Aug. 31, the company earned $7.5 million, or 7 cents per share, up 30 percent from $5.8 million, or 6 cents per share, in the same period a year earlier.
Revenue rose 7 percent to $265.2 million from $248 million.
Analysts, on average, were expecting a profit of 10 cents per share on sales of $258.1 million, according to a poll by Thomson Reuters.
The company ended the quarter with about 1.1 million wireless subscribers, up slightly from the year-ago period. Centennial provides wireless service in the U.S. and Puerto Rico.
Average revenue per user among U.S. wireless customers rose 4 percent year over year to $74 during the fiscal first quarter.
Shares fell 43 cents, or 8.2 percent, to $4.78 in afternoon trading. In the past 52 weeks the stock has traded between $4.19 and $10.35.
U.S. stocks fell on Wednesday after signs of weakening employment and a contraction in service industries overcame earlier gains in the trading s...
China markets opened lower on Tuesday morning as the investors' confidence hit by the signals that global recession are deepening.
The markets have spoken: risk aversion is still the name of the game and that was obvious since the beginning of the week.
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